New Jersey Real Estate Practice Exam Practice Question
A buyer-broker locates a property that is listed with another broker. The buyer makes an offer through the buyer-broker and an agreement of sale results. In this situation, the buyer-broker is acting as a:
Correct Answer: C
Rationale: In this scenario, the buyer-broker represents the buyer, ensuring their interests are prioritized during the transaction. This role entails a fiduciary duty to the buyer, including loyalty, confidentiality, and full disclosure.
Option A is incorrect because the buyer-broker is not acting as a subagent of the listing broker; that role would imply loyalty to the seller.
Option B mischaracterizes the buyer-broker's role as merely a referring broker, which does not encompass the fiduciary responsibilities owed to the buyer.
Option D is wrong as it suggests the buyer-broker represents the seller, which contradicts the established relationship with the buyer.
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